【By Observer News, Wang Yi】After China released a series of "countermeasures" last week, the U.S. government once again tried to use the "tariff stick" for extortion, only to get a wave of lamentations from Wall Street. On October 13th local time, after President Trump, Vice President Vance, and U.S. Trade Representative Jamison Grimmer, U.S. Treasury Secretary Scott Bensont also softened his tone while speaking to Fox Business Channel, stating that it was not necessarily required to impose 100% tariffs on Chinese goods.
Professor Wu Xinbo, Director of the Institute of International Studies at Fudan University, pointed out that the change in the U.S. attitude shows that China has cards to play, dares to play them, and can make the U.S. feel the pain. "We have now seen through Trump and fully understood his bottom line." Professor Wang Yimao from the School of International Relations at Renmin University also believes that the recent Sino-U.S. trade friction is essentially a process of "struggle for peace," and "China's response is more like a countermeasure, warning the U.S. not to create trouble anymore because Washington gains nothing from it."
Bensont expects that both sides will hold more meetings, and Trump has stated that the tariffs will not take effect before November 1st.
Bensont also said that this week the U.S. and China will hold working-level talks. "A 100% tariff does not necessarily have to happen, although this message was announced last week, the relationship between the two sides remains good. The communication channels have been reopened, so we will wait and see." He himself holds an optimistic attitude towards the possibility of the situation easing.
However, Bensont also tried to continue to smear China, claiming that "the actions of China are provocative," and he stubbornly stated that the U.S. government "is willing to take all necessary measures to adjust any required posture" to deal with China.
Bensont also did not forget to shift the blame, saying that the current situation where the U.S. is constrained is a historical issue, "this is the mistake of previous governments over the past few decades failing to look at the issue from a strategic perspective."
On October 13th local time, U.S. Treasury Secretary Scott Bensont was interviewed by Fox Business Channel. Video screenshot
Bensont's remarks were seen by the outside world as the latest sign that the U.S. is releasing a "calm signal." A day earlier, the statements of Trump himself, U.S. Vice President Vance, and U.S. Trade Representative Jamison Grimmer were interpreted by the outside world as the U.S. would not fulfill the tariff threat, and was willing to reach an agreement with China and ease the tension.
On October 11th, Trump restarted the extortion of tariffs against China, causing global financial market turbulence, with the S&P 500 stock index falling more than 2% in a single day, marking the largest drop since April. However, within just two days, the U.S. tone clearly softened.
On October 12th local time, the South China Morning Post cited analysts who believed that Trump has a habit of making strong statements and then backing down, hence being labeled "TACO." In fact, Trump overestimated the leverage he had, while China became increasingly confident in this game.
The same day, the Financial Times cited analysts who pointed out that the recent sharp tensions in Sino-U.S. relations were entirely caused by the U.S. government's wrong policies toward China in September this year. These hostile actions not only escalated the tension but also once again proved the low credibility of the Trump administration.
The South China Morning Post reported on October 13th that Professor Wu Xinbo, Director of the Institute of International Studies at Fudan University, analyzed that China's latest round of trade countermeasures may be a positive step to stabilize Sino-U.S. relations, forcing the Trump administration to adopt a more pragmatic attitude.
Wu Xinbo said that China has cards, is ready to play them at any time, and has the ability to make the U.S. feel pain. This round of countermeasures "will be very helpful and very positive for future Sino-U.S. trade negotiations and the stability of the overall bilateral relationship." He added, "We have now seen through Trump, and we have fully understood his bottom line."
Professor Wang Yimao from the School of International Relations at Renmin University believes that the recent Sino-U.S. trade friction is essentially a process of "struggle for peace," and "China's response is more like a countermeasure, warning the U.S. not to create trouble anymore because Washington gains nothing from it."
Also a professor at Renmin University, Shi Yinhang pointed out that China's enhanced control over rare earth exports is likely to make Trump realize that it is almost impossible to force China to make a "substantial surrender," and that suspending the purchase of American products could "make Trump even angrier."
Willie Rien Law Firm partner and former senior official at the Department of Commerce during Trump's first term, Nazak Nikahat, believes that no matter what choice Trump makes, China is unlikely to back down.
"Some people think it's just a negotiation, but they completely misunderstand the Chinese side," Nikahat said. "This time, China will not compromise under threats. Moreover, seeing the U.S. market fall, the Chinese side will think that the U.S. is digging its own grave."
On October 13th, Lin Jian, spokesperson for the Chinese Foreign Ministry, responded to the U.S. plan to impose 100% tariffs on Chinese goods starting November 1st, stating that the spokesperson of the Chinese Ministry of Commerce had already explained China's position on this matter. In recent periods, the U.S. has continuously introduced a series of restrictive and sanctioning measures against China, seriously harming China's interests. China firmly opposes this, and instead of reflecting on itself, the U.S. is threatening with high tariffs, which is not the correct way to deal with China.
China urges the U.S. to quickly correct its erroneous practices, guided by the important consensus of the call between the two heads of state, and resolve each other's concerns through dialogue on the basis of equality, respect, and mutual benefit, properly manage differences, and maintain the stable, healthy, and sustainable development of Sino-U.S. relations. If the U.S. persists in its own way, China will resolutely take corresponding measures to safeguard its legitimate rights and interests.
This article is exclusive to Observer News, and without permission, it cannot be reprinted.
Original: https://www.toutiao.com/article/7560738894254260799/
Statement: This article represents the views of the author and is welcome to express your opinion by clicking on the [Up/Down] buttons below.